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(b) Taxpayers to Whom Subsection (a) Applies.-–
(1) In general.-–A taxpayer is described in this
subsection if-–
(A) the sum of-–
(i) the modified adjusted gross income
of the taxpayer for the taxable year, plus
(ii) one-half of the social security
benefits received during the taxable year,
exceeds
(B) the base amount.
(2) Modified adjusted gross income.-–For
purposes of this subsection, the term “modified
adjusted gross income” means adjusted gross income-–
(A) determined without regard to this
section and sections 135, 137, 221, 911, 931,
and 933, and
(B) increased by the amount of interest
received or accrued by the taxpayer during the
taxable year which is exempt from tax.
(c) Base Amount and Adjusted Base Amount.-–For purposes
of this section-–
(1) Base amount.-–The term “base amount” means-–
(A) except as otherwise provided in this
paragraph, $25,000,
(B) $32,000 in the case of a joint return,
and
(C) zero in the case of a taxpayer who-–
(i) is married as of the close of the
taxable year * * * but does not file a joint
return for such year, and
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Last modified: May 25, 2011